OJSC Rosneft to Form Joint Venture with ITERA Oil and Gas - Rosneft Aims to Expand its Gas Business by Entering into JV with ITERA - Deal Analysis - OJSC Rosneft Oil Company (Rosneft), an oil and gas company, has signed a strategic cooperation agreement for a proposed Joint Venture (JV) with natural gas company ITERA for the exploration and development of gas deposits in Russia.
ITERA will contribute its gas assets, including 49% each of Sibneftegaz and Purgaz, 67% of Uralsevergaz and several other assets, while Rosneft will contribute energy deposits in the Kynsko-Chaselsk license block. The other Rosneft gas assets will also be transferred to the JV in the future. The JV's initial combined recoverable liquid hydrocarbon and natural gas reserves will total approximately 50.7 million tons and approximately 600 billion cubic meters (bcm), respectively.
In addition, Rosneft and ITERA have agreed to pursue joint efforts to expand their gas business through the acquisition of new gas producing assets.Report Scope
- Rationale behind OJSC Roshneft's plan to enter into joint venture with ITERA.
- Stratigic benefits for the companies involved in the transaction
- Geography covered - RussiaReasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in the natural gas sector of Russia, its opportunities and issues.Keywords
Oil, Gas,ITERA , Rosneft, joint venture, acquisition, partnership, Russia, Yamalo–Nenets autonomous region, Ukraine, Commonwealth of Independent States
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